Imagine being at the mercy of Paypal...

At least they have the potential to own bitcoin. Like they won't be afraid of it's digital nature.

this is a misleading tweet but no surprise its...twitter. most of these companies do offer fdic coverage for their account holders. also zelle is a bank to bank transfer system, so thats all in fdic insured banks to begin with.

the tweet misses the larger picture, which is that consumers arent actually protected at all by fdic insurance. am i better off putting my money in a bank that is insured by a govt program which has the capacity to reimburse perhaps 1% of depositor funds in the banking system, that takes my money and puts it in a money market acct, or do i just cut them out and buy money market acct shares using a retail brokerage? how much more exposed am i in the fiat ponzi scheme in that example?

Does the FDIC go bust before vanguard? 🤔

I'm just sayin if you are going to use some sort of Fintech outside of a traditional bank for primary savings I would make sure that they have FDIC insurance... I'm pretty sure Venmo and Cash app so not so literally the money there is at risk...

Not sure if that’s wise or complete stupidity. Wait, it’s all stupidity with centralized accounts.

And it's so freaking sad. We need more awareness about the dangers of this

such losers...